The Egyptian Minister of Industry in Al-Arabiya: we aim for an export of 60 billion dollars in 2025

In an interview with Al-Arabiya, Egypt’s Minister of Industry and Trade, Nevin Gamea, attributed the historic leap in the country’s exports to a number of reasons. in particularly the success of State policies in providing opportunities Maintain production of all factories in light of the challenges of the pandemic.

Gamea revealed that the Egyptian factories “worked full time and, conversely, operations increased in light of the application of procedures for the distancing of workers”, predicting that the value of Egypt’s annual exports would exceed 31 billion. dollars last year, because the December data is still in the audit phase.

He described this number of exports as “Egypt has never seen it before,” noting that the targets amount to $ 60 billion of total Egyptian exports by 2025 as part of the state’s goal of reaching $ 100 billion. dollars in the longer term strategic.

He said that among the most important reasons for increasing the value of Egyptian exports was the export support program through which £ 23 billion was disbursed last year, explaining that the work on this program was related to the ” opening new markets, supporting Egyptian brands, and supporting the cost of shipping on new markets by more than 80% as well as numerous direct benefits to specific sectors and markets to locate and deepen the local product.

The Minister also attributed the reasons for the growth in exports during 2021 to the measures adopted by the government to increase the efficiency of the export support system, including the settlement of arrears to exporters, the expansion of the base of products that benefit from export support programs, with a focus on high value-added industrial sectors, as well as increasing the percentage of Introduction support for exports to African countries.

He added that one of the reasons for the increase in Egyptian exports is also the growth in global demand for goods, after the gradual recovery from the repercussions of the Corona pandemic.

He added that some international markets tend to rely on Egyptian products to replace products from some traditional markets, due to the high shipping costs from those markets.

The Egyptian Minister of Industry in Al-Arabiya: we aim for an export of 60 billion dollars in 2025
Port of Ain Sokhna, ports of Egypt

He revealed that the most important markets that have been worked on and that have achieved a notable increase in the reception of Egyptian exports are: Arab markets, in particularly as regards exports of agricultural crops, and the markets of the European Union and Latin America, in particularly the countries with which Egypt has many trade agreements.

Regarding the sectors that have undergone structural reforms, Jameh said these reforms included three sectors: manufacturing, the agricultural sector and the telecommunications sector, explaining that the industrial sector has seen support measures to raise rates. of growth of its contribution to the domestic product through incentive measures, including the initiative of 100 measures to stimulate the industry.

He stressed that the disbursement of export subsidies takes place in the context of the great interest of the State, and in parallel with the formation of the Supreme Council for Exports chaired by the President of the Republic and with the support of various ministries, competent authorities, the Central Bank and representatives of the private sector.

He pointed out that these measures and other incentives and measures come with the aim of maintaining or increasing export opportunities, explaining that among the most important beneficiary sectors are the petrochemical and fertilizer sectors, which have seen an increase in their exports. with rates ranging between 43% and 45%, while exports of construction materials and agricultural crops grew at lower rates.

The value of Egyptian exports jumped in 2021 to 31 billion dollars, reaching the highest level ever, so much so that Egyptian exports increased by 22.5% in the last year, compared to the year 2020, which amounted to 25 , 29 billion dollars.

The jump was supported by the increase in the export value of some sectors, including the export of chemicals and fertilizers, which played a prominent role.Among the most important sectors whose exports have increased: building materials , food products, then engineering and electronics, then agricultural crops, then packaged clothes, printing, paper and packaging, then textile and spinning products, furniture and medical industry products.

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